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TransferWise holds money since early January 2019

#121
I'm using Transferwise business account with hundred thousand USD annually turnover, but has no single problem. I wonder if there are some internal rules to block user's account, may be:
1. The nature of business
2. UBO passport and residence (CRS, CFC)
3. The nature of transactions. Eg: Business to Business - Business to Personal and vice versa
4. Sender / Receiver Profiles
I had a request to review from TW last October but just provided them some documents (the most important thing may be your high-street bank statement) and no problem happened. Hope that people can share the reasons that TW close the accounts
 
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#122
banks, emis, etc... are crooks. Simple bottom line. Everyone knows this. Gov and banks are just the most sophisticated criminal enterprises in the world. Always have been. Always will be. So... no... they're never going to play fair or nice. All you can do is find the most reputable banks you can -- and even then, pray... All banks and certainly all EMIs worry me. Way way too many horror stories out there, which clearly don't all fall under people misusing these insitutions -- rather it's very clear these institutions misuse us.

I really don't know what the solution is. Buy propertly, even tiny ones with tiny amount of money. Buy jewels. I don't know. But something that's tangible and not so quick to depreciate will always be safer than funds held digitally anywhere. You can never rest easy if a computer keystroke can take you out. And all banks and EMIs can do that anytime they want, and say any bulls**t reason they want essentially.
 
#124
For Free said:
I'm using Transferwise business account with hundred thousand USD annually turnover, but has no single problem. I wonder if there are some internal rules to block user's account, may be:
1. The nature of business
2. UBO passport and residence (CRS, CFC)
3. The nature of transactions. Eg: Business to Business - Business to Personal and vice versa
4. Sender / Receiver Profiles
I had a request to review from TW last October but just provided them some documents (the most important thing may be your high-street bank statement) and no problem happened. Hope that people can share the reasons that TW close the accounts
Click to expand...
Unfortunately TW don’t share the why, but for me, I would hazard a guess that it was related to the size of my initial balance... my U.K. high street bank exited my personal and commercial accounts after some (legitimate) crypto activity and I moved my balances across to TW. I am a EU born passport holder, resident in the UK with a U.K. Ltd company... my account was closed without me having conducted any international transfers or even any transfers of any significant size within the U.K. My industry may be an issue though, property investor/developer - looks like we are only marginally better than drug dealers these days!
 
#125
In addition to the above, anybody had any experience of Currenxie in terms of ‘self-funded deposits’? I have opened an account with them to receive the funds stuck in TW, but noticed on the small print that ‘self-funded deposits’ aren’t accepted as they are not a ‘deposit taking FI or bank’... Anybody got any feedback of ‘self-funding’ their Currenxie Account?
 
#126
a P2P exchange

An individual, probably from Vietnam, or least with vietnamese name, sent me a sum under 100 EUR. Before I'd receive money immediately, from other people, and I wasn't doing it often. This time it said on his side: "...delay, it'll take 1 working day for a recipient to receive money, we need to make some checks...". I asked him to cancel a payment.

That person appearsed to be using TW often, as I saw at an exchange. There was no refference to "crypto" in a note of a transaction, except "from <his_nickname>"


Do you guys have an idea as for why?

Can it be related to EUR, and will it be better to use USD instead, to avoid these types of scrutiny? Or what would you recommend in general?
 
#127
Hello, I have issues with Transferwise (WISE) now for two weeks. I have a business account and personal account there in which i only used the business account receiving my earnings from Amazon and Paypal for half a year now. In addition i use the business account for tiny payments for online purchasing at normal shops.

Then in the month of January i decided to invest in some crypto at Binance and deposited at Binance from my virtual credit card from TW. No issues at all. Until two weeks ago, i deposited from Binance to Transferwise back via SEPA and they refused the receival of funds and tried to bounce it back to Binance. They said they do not accept deposits from unregulated cryptocurrency websites, which i now understand but i have done this several times before.

After lots of tries and horrible support (read, no support) Binance does not allow deposits from Transferwise via SEPA so guess what, the circus started. Finally i suggested to transfer the funds to my personal bank account in the Netherlands so they asked for my bank account details through secure file transfer in which i did. After reading all these messages with blocked accounts (mine is not blocked) I am wondering if they will also wait for months before making the final transfer to my bank. Any ideas?
 
#129
martiniman said:
Hello, I have issues with Transferwise (WISE) now for two weeks. I have a business account and personal account there in which i only used the business account receiving my earnings from Amazon and Paypal for half a year now. In addition i use the business account for tiny payments for online purchasing at normal shops.

Then in the month of January i decided to invest in some crypto at Binance and deposited at Binance from my virtual credit card from TW. No issues at all. Until two weeks ago, i deposited from Binance to Transferwise back via SEPA and they refused the receival of funds and tried to bounce it back to Binance. They said they do not accept deposits from unregulated cryptocurrency websites, which i now understand but i have done this several times before.

After lots of tries and horrible support (read, no support) Binance does not allow deposits from Transferwise via SEPA so guess what, the circus started. Finally i suggested to transfer the funds to my personal bank account in the Netherlands so they asked for my bank account details through secure file transfer in which i did. After reading all these messages with blocked accounts (mine is not blocked) I am wondering if they will also wait for months before making the final transfer to my bank. Any ideas?
Click to expand...
It is very simple. Wise does not support crypto transactions and you should have checked that before doing it (if you didn't and you were trying your luck). A few times you were lucky, but then they caught you. Generally speaking they should transfer fudns quickly.

Did TW close your account?
 
#131
Mark Rucken said:
It is very simple. Wise does not support crypto transactions and you should have checked that before doing it (if you didn't and you were trying your luck). A few times you were lucky, but then they caught you. Generally speaking they should transfer fudns quickly.
Click to expand...
they do support them: incoming ones, and from certain exchanges only which are regulated by EU or UK.
 
#132
I think its fu.ck.-cking crazy that those EMIs block your funds or freeze your account asking for more and more and more documents when receive or send a 100 or 500 euros transfer but then you see the big guys sending millions of dollars every day and nobody is asking them a single question.

its never enough you need to provide more documents and more and more... and its never enough, they keep freezing your account blocking it closing it.. just for receive 200 euros, or sending 100 euros to someone else. the 50 guys I talked to that have accounts in EMIs 99% of these guys suffered either a freezing, blocking, etc etc with them.

but then u have some of the VIP guys sending and receiving millions and millions every day and nobody is asking them any questions.

if u have 1 million euros to open an account with frick or seba or deltec you will be part of the VIP guys part of those VIP banks that pay huge Brives to dont have to deal with interferences........... if not then u will need to deal with EMIs or stupid banks blocking you for sending 100 euros or receiving 200 euros transfer.

WHAT THE F.-.-.-U.-.-.-.-C-.-.-.K????????????????????

WHAT THE F.-.-.-U.-.-.-.-C-.-.-.K????????????????????
 
#133
birdcay7788 said:
Hi, here is my experience with my 2k EUR in my TW account.
They closed our company account on 19 Nov 2020, replied with those 60 days due dilligence cheks they needed. They were replying within 1 business day. There was an issue with our next account, so it took some time to register. TW even reached out first to ask for the new account details one more time.
Unfortunately, I could give other IBAN only on 15 Jan 2021. I gave them director's account as they notified me- it works for them.
It's already 2 months around or 40 business days. Still waiting. Thing is they don't even reply since 15 Jan 2021. Last thing they replied was that they "received account details and will reach out if needed".
I ask them about refund progress once a week. For last 2 weeks no replies.
Have someone experienced ignored emails?
Will notify you guys what happens next.
Click to expand...
So I get back with news- got my 2k after 75-80 working days instead of 60. Still there wasn't any replies last month from them, so I kept spaming their Support. They refunded funds to director's private account, still there wasn't any replies in e-mail from them.
 
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#134
birdcay7788 said:
So I get back with news- got my 2k after 75-80 working days instead of 60. Still there wasn't any replies last month from them, so I kept spaming their Support. They refunded funds to director's private account, still there wasn't any replies in e-mail from them.
Click to expand...
Regardless how you did it then it is good news that you got your money. Thank you for getting back here and take the time to also post about good things.
 
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#139
you could protest in Brussels perhaps as this is purely regulations implemented designed by EU , called AMLD 5 and AMLD 6.

so reason uae is still on grey list, uae needs to take more public action and seize money before they are off that list......
 
#140
ayousupply said:
Yeah the problem is I need this money to buy a digital asset, and the seller will not wait that long.
Click to expand...
Not their problem
ayousupply said:
So what can I do?
Click to expand...
Nothing
ayousupply said:
Threaten them with legal action?
Click to expand...
Useless
ayousupply said:
Spam them on linked and twitter?
Click to expand...
There are bad reviews everywhere, nevertheless people keep sending money to wise. Sorry you have been scammed but you could have avoided it by dyor
 
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